HARMONIC INC
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 14, 2025
HLIT$9.99-2.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $39,217 | $83,994 | $28,182 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 12,139 | 12,255 | 12,260 |
| Asset impairment and related charges | 12,036 | — | — |
| Stock-based compensation | 28,073 | 27,329 | 25,212 |
| Foreign currency remeasurement | 315 | 1,453 | (2,685) |
| Deferred income taxes, net | (16,436) | (92,856) | 4,894 |
| Provision for excess and obsolete inventories | 10,971 | 7,396 | 5,988 |
| Gain on sale of investment in equity securities | — | — | (4,370) |
| Other adjustments | 569 | 1,920 | 3,418 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (38,241) | (32,695) | (21,182) |
| Inventories | 8,374 | 35,403 | (54,431) |
| Other assets | 3,199 | 25,483 | (8,402) |
| Accounts payable | (3,107) | (29,358) | 5,837 |
| Deferred revenues | (2,210) | (20,823) | 2,610 |
| Other liabilities | 7,018 | (12,442) | 8,145 |
| Net cash provided by operating activities | 61,917 | 7,059 | 5,476 |
| Cash flows from investing activities: | |||
| Purchases of investments | — | (6,305) | — |
| Proceeds from maturities of investments | — | 6,305 | — |
| Proceeds from sales of equity investments | — | — | 7,962 |
| Purchases of property and equipment | (9,186) | (8,475) | (9,250) |
| Net cash used in investing activities | (9,186) | (8,475) | (1,288) |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt | 115,000 | — | — |
| Repayment of convertible debt | (115,500) | — | (37,707) |
| Payments for debt issuance costs | (332) | (1,025) | — |
| Proceeds from other borrowings | 3,943 | 3,835 | 3,499 |
| Repayment of other borrowings | (5,447) | (4,865) | (4,583) |
| Repurchase of common stock | (30,047) | — | (5,133) |
| Proceeds from common stock issued to employees | 6,628 | 6,558 | 7,092 |
| Taxes paid related to net share settlement of equity awards | (7,514) | (9,493) | (6,301) |
| Net cash used in financing activities | (33,269) | (4,990) | (43,133) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | (1,942) | 1,089 | (4,900) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 17,520 | (5,317) | (43,845) |
| Cash and cash equivalents and restricted cash, beginning of the year | 84,269 | 89,586 | 133,431 |
| Cash and cash equivalents and restricted cash, end of the year | $101,789 | $84,269 | $89,586 |
| Cash and cash equivalents and restricted cash at end of period | |||
| Cash and cash equivalents | $101,457 | $84,269 | $89,586 |
| Restricted cash | 332 | — | — |
| Total cash, cash equivalents and restricted cash as shown in the consolidated statement of cash flows | $101,789 | $84,269 | $89,586 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental cash flow disclosure: | |||
| Income tax payments, net | $27,308 | $18,128 | $9,036 |
| Interest payments, net | $6,283 | $1,626 | $3,796 |
| Supplemental schedule of non-cash investing activities: | |||
| Capital expenditures incurred but not yet paid | $488 | $618 | $1,075 |
| Supplemental schedule of non-cash financing activities: | |||
| Shares of common stock issued upon redemption of convertible debt | 4,578 | — | 3,882 |
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